Sebacia announced that the company has completed a $20 million Series D financing and closed a $16 million debt facility with Hercules Capital to continue the development of a proprietary microparticle treatment for moderate-to-severe acne.
The privately held, clinical and commercial stage dermatology and aesthetics company intends to use the proceeds from the financing to complete a U.S. pivotal trial of the treatment with expected results by mid-2018, and submission and FDA response expected by the end of 2018, according to a news release.
Sebacia reported that it also intends to expand its commercial presence in the European Union, where the treatment has been CE Marked, according to the release.
The microparticles are made of gold and silica and are delivered in a topical suspension specifically designed to work with hair removal or pigmented lesion treatment laser systems already owned by a dermatologist. The treatment is intended to be a physician-guided, in-office procedure that could provide an alternative to existing therapies, such as oral antibiotics and isotretinoin.
The microparticles are specially designed to be activated by the light from the lasers and are placed in a suspension designed to penetrate the sebaceous follicles. When exposed to a laser pulse, they create a focused photothermal effect in the sebaceous gland and follicle to reduce the activity level of the gland and acne-causing inflammatory lesions, according to the release.
The financing was led by existing investors Versant Ventures, Domain Associates, Accuitive Medical Ventures and Partners Healthcare Innovation Fund, while new investors, including Salem Partners, accounted for approximately 60% of the round, according to the release.